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TN HB0156
Bill
Status
1/14/2025
Primary Sponsor
John Clemmons
Click for details
AI Summary
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Child care agencies (as defined in § 71-3-501) are added to the list of entities exempt from Tennessee business taxes under Section 67-4-708(3)(C)
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Counties and municipalities will continue receiving annual distributions equal to the 2023-2024 fiscal year amount that came from taxes on child care agency services, starting in fiscal year 2024-2025
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The replacement distributions to local governments will come from state sales tax collections before the standard distribution formula applies
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Revenue from the 2002 sales tax increase (from 6% to 7%) is excluded from these local government distributions and remains allocated under existing 2002 law
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Effective upon becoming law, applying to tax years ending on or after December 31, 2025
Legislative Description
AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, relative to exemption from taxes for child care agencies.
Taxes, Business
Last Action
Assigned to s/c Finance, Ways, and Means Subcommittee
1/28/2025